This year Costco will expand its presence in the United Kingdom, Japan and Spain. The retailer's membership format has found appeal in many foreign countries, and I see more success ahead. There are now 674 Costco warehouse clubs in operation globally, 475 in the United States and 199 units outside the U.S.
For over 20 years, warehouse club juggernaut Costco Wholesale Corp. has quietly been dabbling in a new market: selling supplies specifically tailored to small businesses. Now, Costco could be looking to move more aggressively with a store format in a bid to head off competition from Wal-Mart's small-business friendly brand Sam's Club, as well as…
Wal-Mart has a message for its vendors: keep those trade funds and put them toward the cost of goods. Wal-Mart wants even lower prices from suppliers to put more distance between itself and competitors, many of whom depend on vendor dollars. While it's not unusual for a retailer to pressure manufacturers for lower prices, the move by Wal-Mart, first reported by The City Wire's Kim Souza in February and again last week by The Wall Street Journal, is significant because of increasing competition from a wide range of rivals, including Aldi, Costco, Dollar General and Kroger.
It's a bird, it's a plane … it's Jet.com. Flying high and ready to disrupt the e-commerce world, Jet is a revolutionary marketplace that's taking a new approach to online retailing by using a membership-based business model (think an online Costco or Sam's Club). If you're an online retailer, you might want to take notice.
The Honest Company’s Jessica Alba and CEO Brian Lee offered an open, honest and frank assessment about their eco-friendly e-commerce st
Costco announced that its credit card network will be handled by Visa next year, an announcement that comes weeks after it sideswiped Visa rival American Express in a move that ended a 16-year relationship with the retailer. Costco said Citigroup would be the exclusive issuer of the retailer's co-branded credit cards, while Visa will be replacing American Express as the credit card network for Costco in the U.S. and Puerto Rico beginning April 1, 2016.
Costco shoppers who have been limited for years to American Express credit cards may be able to pluck a new option from their wallets or purses next year after an exclusivity deal between the companies expires. American Express said Thursday that it hasn't been able to come to an agreement with Costco on renewal terms. The current agreement covers U.S. stores and dates back 16 years. It will end March 31, 2016.
Is Target headed towards the same fate as Sears? Analysis of the discount retailer's latest numbers suggest it's possible. According to a Seeking Alpha report, Target reported a small revenue decline on Oct. 31 of last year compared with the year prior; the firm declared $73.7 billion in TTM revenue, compared with $73.81 billion the same period in 2013. While the drop is far from catastrophic, the numbers show a more troubling picture when held up against Target's top rivals. Wal-Mart, Kroger and Costco all reported multibillion-dollar revenue increases in the same period.
It's hard to believe we're less than a month away from Thanksgiving. Over the last few years, retailers have opened their stores earlier and earlier on Black Friday in order to cash in on the holiday shopping frenzy. So much so that Black Friday doorbuster sales have crept — uninvited — into our Thanksgiving dinners. Big-box retailers such as Wal-Mart and Toys"R"Us have gone on record as to how opening on Thanksgiving has increased their sales drastically. But honestly, how in the world did 6 p.m. on Thanksgiving turn into the new midnight for Black Friday sales?
At Costco, the Black Friday deals won't begin until, well, Friday. The warehouse retail chain will again stay closed on Thanksgiving this year, bucking the trend of retailers opening their doors earlier and earlier. "Our employees work especially hard during the holiday season and we simply believe that they deserve the opportunity to spend Thanksgiving with their families," a Costco spokesman told the website Think Progress. The company didn't say when on Friday it would open the doors of its 468 locations. Most locations normally open at 10 a.m. on weekdays.